Public Employees Retirement Association of Colorado Takes $2.15 Million Position in Garmin Ltd. (NYSE:GRMN)

Public Employees Retirement Association of Colorado acquired a new stake in shares of Garmin Ltd. (NYSE:GRMNFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,717 shares of the scientific and technical instruments company’s stock, valued at approximately $2,149,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Garmin by 213.5% during the fourth quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after buying an additional 28,301 shares during the last quarter. Peterson Wealth Services purchased a new stake in Garmin during the 4th quarter valued at $2,365,000. Envestnet Asset Management Inc. increased its holdings in shares of Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Garmin in the fourth quarter worth $8,691,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of Garmin by 30.0% during the fourth quarter. Natixis Advisors L.P. now owns 30,041 shares of the scientific and technical instruments company’s stock valued at $3,861,000 after purchasing an additional 6,939 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Insider Activity at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total value of $2,233,350.00. Following the completion of the transaction, the director now directly owns 653,834 shares in the company, valued at approximately $97,349,344.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $148.89, for a total value of $2,233,350.00. Following the sale, the director now owns 653,834 shares in the company, valued at approximately $97,349,344.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the sale, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,126 shares of company stock valued at $5,100,284. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRMN. Barrington Research boosted their target price on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. Barclays raised their price target on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Tigress Financial raised their target price on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of “Hold” and an average target price of $156.83.

View Our Latest Report on Garmin

Garmin Trading Down 0.4 %

NYSE GRMN opened at $163.26 on Monday. The stock has a market cap of $31.36 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 3.52 and a beta of 0.98. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $171.64. The company’s 50 day moving average is $156.49 and its two-hundred day moving average is $139.22.

Garmin (NYSE:GRMNGet Free Report) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.02 EPS. Garmin’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Garmin Ltd. will post 5.77 EPS for the current year.

About Garmin

(Free Report)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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